Currently, companies are compelled to incorporate sustainability into their strategies and management models due to changes in financial regulations at the international level and in Mexico. This entails the possibility of accessing sustainable financing sources, such as green bonds or impact loans. The integration of sustainability and social responsibility into strategic planning not only brings ethical and moral benefits but also generates competitive advantages and contributes to sustainable long-term growth.
Chief financial officers must develop a global and systemic strategic approach to anticipate and understand the risks associated with environmental and management transitions. With the evolution of sustainable-focused financial regulations, their role has evolved to that of strategic leaders at the intersection of the economic, social, and environmental performance of the company.
Companies are adapting their strategic plans to include more sustainable practices in a scenario where financial management is becoming increasingly strategic. Digitalization, artificial intelligence, and blockchain have profoundly transformed the financial function, expanding its scope of action.
In Mexico, the Mexican Council for Financial Reporting Standards (CINIF) issued the first Sustainability Reporting Standards (NIS) in May of this year. These standards establish the disclosure of financial information related to sustainability and include specific metrics, aligning financial decisions with sustainable long-term objectives.
On the other hand, the International Sustainability Standards Board (ISSB) published the first International Financial Reporting Standards (IFRS) on sustainability in June 2023, marking a new standard for corporate information disclosure internationally. These standards focus on climate risk management and sustainability information disclosure.
The integration of ESG criteria into financial management entails the need to define strategic plans and management models with a sustainable focus. This implies that companies, especially those with public accountability obligations, will need to publicly report sustainability metrics starting in 2025.
In conclusion, the evolution of financial regulations towards sustainability is driving companies to adopt a more responsible and strategic vision in their operations. This change is reflected in the gradual transformation of business models towards more sustainable practices, in a global context where environmental awareness and social responsibility are becoming increasingly relevant.
